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NR7

This strategy identifies stocks with the narrowest trading range over the past 7 days (NR7). It looks for a break above the high or below the low of the 7th day candle to enter long or short positions. Key points are to select liquid stocks above Rs. 500, use support and resistance levels from swing highs and lows to determine exit points, and use a trailing stop loss to lock in profits. The strategy works on short timeframes of 1-3 days and aims to capture brief breakouts from a narrow consolidation.

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RAGHU S
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227 views18 pages

NR7

This strategy identifies stocks with the narrowest trading range over the past 7 days (NR7). It looks for a break above the high or below the low of the 7th day candle to enter long or short positions. Key points are to select liquid stocks above Rs. 500, use support and resistance levels from swing highs and lows to determine exit points, and use a trailing stop loss to lock in profits. The strategy works on short timeframes of 1-3 days and aims to capture brief breakouts from a narrow consolidation.

Uploaded by

RAGHU S
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
Download as pptx, pdf, or txt
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NARROW RANGE 7

This strategy starts with the day's


range, which is simply the difference
between the high and the low.
• NR7 would be the narrowest range in seven
days.
• It is valid Intraday or Two to Three Days.
• Also called as The opening range breakout
(ORB)
• Range means High – Low of the particular
candle.
OHLC
ENTRY SETUP
• IDENTIFY THE NR7 STOCK
• OPEN WEEKLY CHART
• Identify the any strong Support or Resistance
points
• Then draw the horizontal line with pink color.
.

• Then open Daily candle mark the High and


Low point with red color line of day 7 candle.
• Note :- Entry should be the 1 point above the
High point and 1 point below the Low point
means 1rupee is buffer.
BUY ENTRY.

• If Price breaks the above red line.i.e breaks the


above high point of the day 7th day candle. Then
enter BUY.
• Exit the position
• Identify the Nearest swing high points with blue
color line in daily candle.( means resistance
points)
• So draw the two or three swing points in daily
candle and confirmation in 4hr or 1hr chart.
• Stop Loss should be day candle low.
SELL ENTRY.

• If Price breaks the below red line.i.e breaks the


below low point of the day 7th day candle. Then
enter SELL.
• When to Exit the position?
• Identify the Nearest swing low points with blue
color line in daily candle.( means support points)
• So draw the two or three swing points in daily
candle and confirmation in 4hr or 1hr chart.
• Stop Loss should be day candle high.
Some key points
• Select only future and options stocks.
• Choose above 500 rs stocks for better
movement.
• Filter high volume stocks.
• If Nifty and concerned sector index is bullish
then Buy the stock immediately.
• If Nifty and concerned sector bearish then
Sell the stock No doubt.
Key Points
• If selected NR 7 stock performs in pre open
market with above selected levels the more
confident to enter the trade.
• Avoid any news of particular selected stock
before or after the markets hours.
• Use trailing stop loss for more profits.
EXAMPLE
SUPPORT
.
.
• SUPPORT
• A previous trough usually forms a support
level.
• Support is a level below the market where
buying pressure exceeds selling pressure and
a decline is halted
RESITANCE
• Resistance is marked by a previous market
peak.
• .Resistance is a level above the market where
selling pressure exceeds buying pressure and
a rally is halted
• Support and resistance levels reverse roles
once they are decisively broken
SUPPORT
•
A support line refers to that level beyond
which a stock’s price will not fall. It denotes
that price level at which there is a sufficient
amount of demand to stop and possibly, for a
time, turn a downtrend higher
RESISTANCE
• resistance line refers to that line beyond
which a stock’s price will not increase. It
indicates that price level at which a sufficient
supply of stock is available to stop and
possibly, for a time, head off an uptrend in
prices.
.
• Support does not always hold true and a
break below support signals that the bulls
have lost over the bears. A fall below support
level indicates more willingness to sell and a
lack of willingness to buy
SBR-RBS
• Another principle of technical analysis
stipulates that support can turn into
resistance and visa versa. Once the price
penetrates below the support level, the earlier
or the broken support level can turn into
resistance. The break of support level signals
that the forces of supply have overcome the
forces of demand. Therefore, if the price
returns to this level, there is likely to be an
increase in supply, and hence resistance

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